A cryptocurrency is an encrypted data string that denotes a unit of currency. It is monitored and organized by a peer-to-peer network called a blockchain, which also serves as a secure ledger of transactions, e.g., buying, selling, and transferring. Cryptocurrency exchanges are the most common type of crypto app, and they allow you to buy and sell cryptocurrencies using USD, BTC, ETH and many other currencies. You can connect your bank account through ACH or use a credit or debit card to buy crypto on most exchanges.
There are several cryptocurrency exchanges where you can trade in cryptocurrencies and crypto-assets. Some even offer strong services, others offer advisory or brokerage services, and while still others offer user-friendly features and investment advice for your endeavours into the world of cryptocurrencies.
Here are some of the best crypto exchanges that you can use.
Coinbase lets you buy and sell Bitcoin, Ethereum, and more with trust. It offers attractive security features, including covered by FDIC insurance, a low minimum deposit to fund accounts, apps for Android or iOS devices, and users can earn some free cryptocurrencies if they are willing to take some educational courses.
Binance is hyped to offer the most competitive rates and is compatible with multiple devices. It boasts of over 2 billion average daily transactions over 1,000 trading markets across an excess of crypto assets. Along with offering low trading commissions, users can easily buy cryptocurrencies using a wide range of payment options, including bank transfer, credit or debit card, and cash through this app.
eToro is another cryptocurrency trading platform popular among users. It is regulated by multiple financial bodies, including the SEC, ASIC, CySEC, and the FCA. It offers a low minimum first deposit amount of only $50 while being fully compatible with both Android and iOS devices. Furthermore, it has over 43 crypto assets where users can deposit through bank transfer, debit/credit card, and Paypal.
Robinhood places no minimum account requirements letting investors to get started right away. The app offers a cash management account that allows users to earn returns that vary with prevailing interest rates on their uninvested cash. Apart from being user-friendly, the app offers 100% commission-free stock on its streamlined platform; however, the mark-up on spreads can cost you a bit. Moreover, it works with a collection of cryptocurrencies that include Bitcoin, Ethereum, Dogecoin, Litecoin, and more.
Gemini‘s cryptocurrency exchange offers a platform for users to buy, hold, and sell cryptocurrencies. It offers a wide range of cryptocurrencies to choose from and has a minimum order amount. Besides, it works both on iOS and Android devices and offers access to transaction histories and downloadable account statements.
Webull’s app lets you buy and sell digital currencies at 0% commission; however, the mark-up on spreads can be costly. The app is user-friendly and comes with intelligent tools and services. Users also get access to real-time quotes. It offers cryptocurrency traders free stocks when users open and funds a new account which they can choose to claim for up to 30 days.
Kraken helps cryptocurrency investors in buying and selling cryptocurrencies at market rates while offering them margin accounts and futures trading. Beginners can start using the Kraken app with a verified account and quickly buy cryptocurrency from a linked bank account while also being able to sell or convert between currencies. To get started, users can start with as little as $ 10 while supporting popular cryptocurrencies, including Bitcoin, Ethereum, Cardano, Solana, and Dogecoin.
CashApp offers a cash management account and helps users to trade stocks and bitcoin. The downside is that it only offers the ability to trade crypto-only with Bitcoin. The app charges a basic service fee for each transaction as well as a fee based on the volatility of Bitcoin traded. On the plus side, it provides the fee before users trade to let them know beforehand how much it would cost. CashApp is best for first-time investors in cryptocurrency and mobile banking users.